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Millennials Are House Hunting Virtually to Save Time

December 1, 2017

The days of homebuyers going from one house to another, looking for the perfect fit, may be over. Real estate agents now want to bring listings to you!

Bill Brown, the CEO of virtual and 3D camera company Matterport, says that millennials welcome the added convenience.

“People can go and see 20 or 30 properties in the time that it’ll take them to drive and see 1 or 2 properties,” Brown said. “It makes the process that much more efficient, you don’t waste a lot of time going and walking through properties that you could’ve easily eliminated upfront.”

Matterport’s technology allows homebuyers to digitally tour and explore a home they might want to move into through headsets, tablets, or other devices.

The trend is catching on. Real estate firm Redfin says that 1 in 3 people buy homes they have not seen in real life. And the number of people making offers on properties they’ve only visited virtually grew 19 percent in 2017.

Millennials particularly are jumping on board. Redfin says the demographic is three times more likely than Baby Boomers to bid on a home, sight unseen.